Solwara 1

Countdown begins for Nautilus

The company has been struggling for some time as it seeks to force through the first experimental deep sea mining project, Solwara 1, off the coast of Papua New Guinea, despite concerted opposition.

Environmental advocates say Nautilus has been receiving bridging loans from its two main shareholders, Russian mining company Metalloinvest and Omani conglomerate MB Holding.

These loans are due for repayment on the 8th of January.